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This week, Ferro Group has completed the acquisition process of Termet, a leading manufacturer of heating equipment in Poland. This transaction is one of the key elements of Ferro’s F1 Strategy and strengthens Ferro’s offer with a new category of products that will enable capturing the positive market trends.

Ferro has become a majority shareholder of Termet S.A. and 100% owner of Tester Sp. z o.o., and thus taking control over these entities. The transaction was signed in November 2020.

“The acquisition of Termet and Tester is one of the key elements in the implementation of Ferro Group’s F1 strategy and although it required a lot of effort from our team, it did not affect the overall pace of implementation of the main strategic initiatives. Our product offer in the higher segment of sanitary fittings will soon debut on the market, we are also continuing integration and optimisation activities as planned and supporting Ferro’s market expansion in the CEE region,” – said Wojciech Gątkiewicz, CEO of Ferro.

“Thanks to this transaction and the combination of Ferro’s strengths and those of Termet and Tester, a major group with a leading position in the CEE region will be created, prepared to continue the expansion in the sanitary fittings and plumbing industry and compete on the attractive market of water consumption and heat source management,” – he added.

The companies are now in a position to proceed to the next stages of the process, i.e. integration of entities within the Ferro Group, clarification of common goals in the combined teams as well as cooperation towards mutual exploitation of identified synergies.

VCP Polska acted as exclusive investment banking advisor to Ferro Group.

Source: VCP, 19/02/2021

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